EOS is a blockchain platform based on the DPoS protocol, created by Daniel Larimer. Because EOS is a token, it circulates only inside the EOS network and cannot be mined. A total of 1 billion tokens will be issued. EOS gives both individual users and companies decentralized trading functionality across a range of services. EOS is not only a cryptocurrency but a multi-purpose platform - better suited to shorter-term earning, yet with a promising future thanks to the reputation of its founders.
What EOS can do
EOS is a highly promising cryptocurrency because it was designed on the back of experience with other well-known projects - BitShares and Steemit. EOS developer Daniel Larimer was directly involved in both as their conceptual and technical creator. For EOS's own development, however, the reference point was a different cryptocurrency: Ethereum. The idea behind EOS overlaps with Ethereum in many respects, and in some it goes further. EOS is a commercial-grade platform for hosting smart contracts for open-source, user-facing decentralized applications (dApps). The EOS platform also lets developers build their own decentralized applications on it, which can then be funded by token holders within the platform's network. That idea is loosely familiar from Steemit, where users rated content in the Steem social network.
One more, more important detail was taken from Steemit. For speed and security, EOS uses the DPoS (Delegated Proof of Stake) algorithm, under which the right to confirm transactions and form blocks is delegated to witnesses elected by the community. This algorithm was first used in Steemit and proved itself there, delivering an average transaction confirmation time of 3 seconds.
Key features of EOS
1. The operating system allows one or several ICOs to be run at the same time.
2. The reliability and performance of the resource address current network problems.
3. High transaction speed. As of 30 January 2018 the weighted average rate stood at USD 13.38, and the market capitalization of EOS was USD 265,810,422.
